Years of rapidly increasing college costs may be coming to an end, at least that is what the College Board has concluded from a pair of reports they conducted recently covering college pricing and student aid trends.

According to the College Board which describes itself as “…a not-for-profit membership association whose mission is to connect students to college success and opportunity,” the cost for college for the 2008-2009 academic year rose slightly faster than the Consumer Price Index (CPI), one of the chief indicators measuring prices and inflation.

“A college education is the passport to opportunity and success in today’s global economy. In this time of financial uncertainty, it is essential that students and families have the most up-to-date information on the true costs associated with making this important investment in their future,” College Board President Gaston Caperton said. “These new reports will help families understand the financial realities of higher education, including the aid available, and then make the best possible decisions.”

Though the increase in the cost of college hasn’t doubled the CPI as it has in recent years, the CPI itself has had one of its largest increases in quite some time, jumping 5.6%. Adjusted for inflation, the cost of attending a community college dropped slightly, while the cost of attending public and private four-year colleges registered a slight increase. Still, students are paying more for college this year than last year and with student aid (loans and grants) figured in, some families are paying much more as aid continues to drop.

The reports’ key findings are summarized in the table below:

	Private Four-Year	Public Four-Year In-State	Public Four-Year Out-of-State	Public Two-Year	For-Profit
Published 2008-09 Tuition and Fees	$25,143	$6,585	$17,452	$2,402	$13,046
One-Year Dollar Increase	$1,398	$394	$866	$108	$557
One-Year Percentage Increase	5.9%	6.4%	5.2%	4.7%	4.5%
One-Year Percentage Increase After Inflation	0.3%	0.7%	-0.4%	-0.8	-1.1%
Average Grant Aid and Tax Benefits per Student	$10,200	$3,700		$2,300	N/A

Lowest Costs and Where

According to the College Board, the lowest costs for college can be found in the West where two-year schooling is the lowest in the nation, while four-year colleges are least expensive in the South. As expected, the highest priced colleges can be found in New England thanks, in part, to that region’s preponderance of elite private schools.

(Source: College Board)

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Tags: college board, college costs, community college, junior college, private college, public college, room and board, tuition

American military personnel who have been fighting in Iraq and Afghanistan are getting a heap of thanks from this country due to an important overhaul of the GI Bill signed into law by President Bush late last month. For the first time since the initial bill was enacted in 1944, significant changes have been put into place, updates which will make it easier for returning veterans and their families to benefit from their service to this country.

Key provisions of the Post-9/11 GI Bill include the following important points:

• All service personnel who have been active since September 10, 2001 and/or who have been honorably discharged are eligible to participate.

• A housing provision of up to $2600 per month is now included for retired military personnel.

• An increase in tuition assistance kicks in; a yearly books and supplies stipend payable to the student of $1000 is also included (active duty personnel are not eligible to receive this benefit). A one time payment of $500 is given for people who must relocate from a rural area to attend school.

• Under certain conditions, benefits can be transferred to spouses and to their dependent children.

Provisions of the new bill do not kick in until August 1, 2009, with various benefit percentages granted depending on their length of service from September 10, 2001 on. Ex-military members are eligible to receive benefits for 15 years from their last period of active duty of at least 90 days.

The changes to the GI Bill have long been in the making, ending several years of frustration on the part of advocates who called for the end of partisan wrangling and for the passage of the bill. Some states and private colleges are already developing plans to offer in-state tuition rates or discounts to eligible students ahead of the August 1, 2009 start date or other incentives to attract new students.

(Source: www.gibill.va.gov)

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Tags: Air Force, Army, Coast Guard, college education, G.I. bill, Marines, Merchant Marine, Navy, Post-9/11 GI Bill, tuition, US military, VA, Veteran Affairs